Spot Commodity

A Spot Commodity refers to a physical commodity—such as gold, crude oil, agricultural produce, or metals—that is bought and sold for immediate delivery and settlement at the current spot price, as opposed to a futures contract where delivery and settlement occur at a future date. In India, commodities are traded on spot markets through regulated platforms and commodity exchanges like MCX and NCDEX for futures. The spot price of commodities like gold and silver is particularly significant for Indian investors and jewellers, as it directly influences domestic bullion prices, import costs, and currency dynamics.